U.S. Bancorp Declares New Dividend; Yield Is 4.5%

It's dividend time at U.S. Bancorp (NYSE: USB). The company announced a raft of dividends for the numerous classes of its stock. As for the common shares held by most of its investors, the bank's board of directors has declared a fresh quarterly payout of $0.42 per share.

This is to be dispensed on Oct. 15 to investors of record as of Sept. 30. At U.S. Bancorp's most recent closing stock price, it would yield 4.5%. That's well above the rates typical not only for banks, but also for the wider universe of the market's dividend stocks.

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Source Fool.com